WASHINGTON (AP) – The number of Americans applying for jobless benefits fell to the lowest level in more than three months, reflecting a still-robust job market despite the Federal Reserve’s efforts to cool the economy and bring down decades-high inflation.
The Labor Department reported Thursday that applications for unemployment aid for the week ending December 31 fell by 19,000 to 204,000.
The labor market is closely monitored by Fed policymakers, who raised interest rates seven times last year in a bid to slow job growth and bring down stubbornly high inflation.
By Matt Ott, Associated Press
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